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$295M Nets San Antonio Hospital System

SAN ANTONIO-Nashville-based Vanguard Health Systems has bought five acute-care hospitals with 1,537 beds from the Baptist Health System. The buyer also pledges $200 million for projects and agrees to maintain the nonprofit's current charity care levels.

By Tim Green | Updated on January 06, 2003

SAN ANTONIO-Nashville-based Vanguard Health Systems Inc. has completed its acquisition of San Antonio’s Baptist Health System. For $295 million Vanguard gets five acute-care hospitals with 1,537 beds.

Vanguard said it will maintain the current levels of charity care that the nonprofit Baptist Health System has been providing. It also will invest at least $200 million in capital projects over six years and maintain each of the existing Baptist hospitals for at least seven years.

Vanguard, formed in 1997 and based in Nashville, owns and operates 10 acute care hospitals and other facilities in Chicago, Phoenix and Orange County, CA. The company seeks acquisitions where its executives find opportunities to improve health-care systems, or where they can become partners with leading delivery systems in new urban markets.

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